Reverse Innovation: Create Far From Home, Win Everywhere

by Vijay Govindarajan, Chris Trimble, Indra K. Nooyi (Foreword by)

Overview

A New York Times, Wall Street Journal, USA Today, Amazon Bestseller

Reverse Innovation is the new business idea everyone is talking about. Why? Because it presents the blueprint for scaling growth in emerging markets, and importing low-cost and high impact innovations to mature ones.

Innovation is no longer the exclusive domain of the Silicon Valley elite. Reverse Innovation will open your eyes to the fact that the dynamics of global innovation are changing—and if you want your firm to survive, you’d better pay attention. The gap between rich nations and emerging economies is closing. No longer will innovations travel the globe in only one direction, from developed to developing nations. They will also flow in reverse. CEOs of the world’s most influential companies agree and have cited Reverse Innovation as their playbook for the next generation of global growth.

Authors Vijay Govindarajan and Chris Trimble of the Tuck School of Business at Dartmouth explain where, when, and why reverse innovation is on the rise and why the implications are so profound. Learn how to make innovation in emerging markets happen and how such innovations can unlock even greater opportunity throughout the world. You’ll follow some of the world’s leading companies (including GE, Deere & Company, P&G, and PepsiCo) through stories that illustrate exactly what works and what doesn’t.

If you’re in a Western economy, you need to accept that the future lies far from home. But the idea is not just for Western audiences. If innovation is at the heart of your company or your career, no matter where you practice business, Reverse Innovation is a phenomenon you need to understand. This book will help you do that.

Product Details

ISBN-13:	9781422157640
Publisher:	Harvard Business Review Press
Publication date:	04/10/2012
Pages:	256
Product dimensions:	6.38(w) x 9.26(h) x 0.89(d)

About the Author

Vijay Govindarajan is the Earl C. Daum 1924 Professor of International Business at the Tuck School of Business at Dartmouth College, and the first Professor-in-Residence and Chief Innovation Consultant at General Electric. He ranked third in the recent Thinkers 50 list of the greatest management thinkers in the world. Chris Trimble, a well-known innovation speaker and consultant, is also on the faculty at Tuck.

Editorial Reviews

Much of American business has focused—successfully—on exporting the same popular products they sell in the States. But that won’t be good enough for long; it’s time to implement reverse innovation, the ability to innovate new products and strategies specifically for emerging markets, argue Govindarajan and Trimble, professors at Dartmouth’s Tuck School of Business and coauthors of The Other Side of Innovation. There’s a chasm between rich- and poor-country needs, and success will depend on the ability to reach the developing world. In an engaging voice, the authors discuss the rising importance of such countries as India and China, and present case studies of companies like Nokia, Proctor & Gamble, GE Healthcare, and PepsiCo, and their efforts to address this challenge. Though reverse innovation clearly has great profit potential, it’s also an instrument for solving vexing social problems in the developing world and improving standards of living. This insightful book makes a compelling case for the developing world supplying the strongest emerging market of the new century. (Apr.)

Publishers Weekly

Named a Best Business Book for 2012 in strategy+business magazine

“Whether you are an executive of a global company or you are simply interested in innovation among cultural differences, creativity, and diversity, this is a lovely and persuasive read.” — Business Insider

“In Reverse Innovation: Create Far from Home, Win Everywhere, Vijay Govindarajan and Chris Trimble make a compelling argument for companies to not just widen their lens, but shift it to a completely different context— that of developing economies.” — strategy+business magazine

“This lovely, persuasive work couples the focused repetition of a good textbook with the lively style of an entertaining article.” — Directorship (South Africa)

“Highly recommended... released this year to a chorus of approval from global business leaders this book explains the way in which the flow of innovation has changed... Reverse Innovation shows senior managers how to make innovation in emerging markets happen, and how these innovations can unlock business opportunities on a global scale - using real-life case studies to illustrate the theories.” — Business Executive

“The book presents its ideas clearly, with about half devoted to the general concepts and the other half to case examples of companies such as GE, Procter & Gamble and PepsiCo, which are leading the way in reverse innovation. If your company can benefit from reverse innovation – or might suffer from it—the book is well worth reading.” — Globe & Mail

“…a book that offers provocative insights into the quickly changing dynamics of the global economy.” “The book is rich with examples…” — The Wall Street Journal

“In Reverse Innovation, [the authors] argue that…western businesses must similarly learn new tricks from their emerging markets. It is an idea that they have been championing for years and which has become increasingly fashionable.” — The Financial Times

“The book, an extension of a 2009 Harvard Business Review article that Govindarajan and Trimble co-authored with General Electric CEO Jeff Immelt, reads like a how-to guide for executives looking to innovate beyond the U.S. and Europe...It's a useful and even inspiring read for any executive who cares about the future of business innovation.” — Fortune.com

“Reverse Innovation is a must read for anyone seeking to participate in emerging markets, be they CEOs of multinationals, leaders of NGOs, or government policy makers.” — Stanford Social Innovation Review

“This accessible new book...provides a clear evaluation of the issues faced and expert advice on how to implement a reverse innovation strategy.” — Developing Leaders

“Govindarajan [and Trimble] writes about how reverse innovation is rapidly changing the way companies think and how that’s affecting the way they look at markets.” — Fortune (India)

“This insightful book makes a compelling case for the developing world supplying the strongest emerging market of the new century.” — Publishers Weekly

“This is a fascinating book for anyone interested in how concepts of innovation need to change in order to succeed, and an even more important book for those who can actually take part on the level the authors advise.” — 800 CEO READ

“A well-researched and thoughtful book.” — The Irish Times

“This book shows how, counter-intuitively, there are many circumstances when business models and products developed in emerging markets can provide new opportunities in rich economies also.” — Forbes.ru

ADVANCE PRAISE for Reverse Innovation:

Jeffrey R. Immelt, Chairman of the Board and Chief Executive Officer, General Electric—
“Govindarajan and Trimble offer a framework for the next phase of globalization.”

Robert A. McDonald, Chairman of the Board, President and Chief Executive Officer, The Procter & Gamble Co.—
“Reverse Innovation is a playbook for leaders who want to unlock growth in emerging markets.”

William D. Green, Chairman, Accenture—
“Innovation knows no geographic boundaries. This book is a defining work on how we invest and engage the future.”

Omar Ishrak, Chief Executive Officer, Medtronic, Inc.—
"Unique and important work, hard-hitting examples, detailed and actionable steps, and clear explanations.”

Ajay Banga, President and Chief Executive Officer, MasterCard—
“As the world’s economic center of gravity continues to shift—and as new consumers continue to emerge—it’s clear that the logic and business practices that drove yesterday’s success won’t drive tomorrow’s.”

Peter F. Volanakis, Former Chief Operating Officer, Corning Technologies—
“I wish I had this book ten years ago."

From the Publisher

The long-standing gap between wealthy nations and emerging ones is narrowing. This book examines two ideas: first, creating growth through the development of products and services in, and for, emerging markets and, second, making small changes to increase profits in mature markets. An expansion of a 2009 article in Harvard Business Review, the work is voiced by Phil Dubois, whose deep and robust baritone effectively relates the content. However, his occasional monotone can also make the material sound academic and somewhat pompous. Overall, the work makes a brave attempt to detail how we engage with and invest in the future—cautioning against long-standing corporate approaches. W.A.G. © AudioFile 2013, Portland, Maine

MARCH 2013 - AudioFile